Goldilocks
“A Bank just told us they are going to move onto the QFS. First action date: June 21, 2024 before 3:00 p.m. MT. Second action date: June 24, 2024 for the remaining steps. It is important to note that this is just one bank’s timeline, but I can’t help from notice that this one is before the June 30th, 2024 lawsthat are taking effect on Crypto regulations and Stable Coins at the end of the month.”
https://dinarevaluation.blogspot.com/2024/05/this-bank-just-told-us-about-when-they.html
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GOLDILOCKS
HKMA Announcement:
"HKMA Updates Social Performance Module (SPM) to Drive Banking Sector Upskilling"
We have recently been talking about many banks going through logistics training and especially in their foreign currency exchange departments.
Here, we have a report that Hong Kong is Upskilling their banking practitioners.
Part of the reskilling of their banking employees deals with The Exchange Stabilization Fund. The ESF deals with three types of assets:
* The US Dollar
* Foreign Currencies
* Special Drawing Rights
The SDR is an international reserve asset. It is created by the International Monetary Fund. This particular asset class is a transitional currency. It will help stabilize and redistribute monetary volumes and access expansion to various currencies to aid in the process of moving from a World Reserve Asset to a local currency regimen backed by gold.
This process will begin to create price pressures on global currencies. Credit valuation adjustments will be a part of this process.
As of August 2023, the SDR basket of currencies consist of the following percentages:
* US dollar: 43.38
* Euro: 29.31
* Chinese yuan: 12.28
* Japanese yen: 7.59
* British pound sterling: 7.44
These percentages will shift during the transition as new alliances have been formed the last few years through new trading partners. Don't be surprised if we do not see a digital currency added to this list.
Hong Kong is an open market economy driven by supply and demand. Currently, the United States dollar is their main asset to drive their Market, but a shift change to a gold backed regimen will immediately change everything for Hong Kong and those who trade with them which is many countries.
Hong Kong has been through several digital pilot programs and completed many of their projects. They are well equipped for the new shift in our economy.
China is currently driving the gold market to new highs along with new BRICS Nations. These changes will come at a heavy price on the US Dollars' performance.
We are in a transition that has taken a lot of time, but the shifts to the global economy are beginning to take a different shape.
Gold will set us free.
© Goldilocks
https://www.investopedia.com/terms/o/open-market.asp
https://www.hkma.gov.hk/eng/key-functions/money/linked-exchange-rate-system/how-does-the-lers-work/#:~:text=Under%20the%20Currency%20Board%20system,at%20a%20fixed%20exchange%20rate.
https://www.linkedin.com/company/hong-kong-monetary-authority
https://home.treasury.gov/policy-issues/international/exchange-stabilization-fund#:~:text=The%20Exchange%20Stabilization%20Fund%20(ESF,by%20the%20International%20Monetary%20Fund.
https://www.regulationasia.com/hkma-updates-spm-module-to-drive-banking-sector-upskilling
https://dinarevaluation.blogspot.com/2024/05/about-hkma-announcement-by-goldilocks.html